The most comprehensive ICO reviews.
We help you to know more and understand better.

Elementh Ico Review

Blockchain technology is changing everything today. It came out back in 2008 with the introduction of bitcoin and has gained acceptance in almost most of the global industries ever since. The blockchain allowed efficient functioning of decentralized systems, something which was considered impossible before its introduction. The transparency and the development opportunity offered by the blockchain is massive. And then comes the unpredictable possibility of innovation. The blockchain, as of now is used in almost all the sectors that involve transactions or exchange of assets and security with transparency.

One industry that particularly lacks decentralization and transparency is the e-commerce industry. E-commerce industries one of the biggest industries. Amazon was recently declared worth more than a 100 Billion USD which started as an e-commerce website itself. The e-commerce industry is new and blooming, the people and sellers readily accept profitable and innovative platforms to deal with.

What is Elementh?

Elementh aims to create e-commerce simpler and better. The platform will leverage blockchain technology to create a standard system for product classification to be used for entire B2B or B2C e-commerce platforms, that allows for the quick setup and scaling of e-commerce projects. The platform will further offer blockchain to register ownership of goods and the ability to sell them using smart contracts.

No transparency and no standardization in the e-commerce industry leads to chaos in the online market community. Same products are sold under different category and names in different countries or within one country. The lack of transparency allows different sellers to sell the same product at different/higher rates minimising the customer benefit. The e-commerce sector is therefore somewhat destabilised and an introduction of a central standardization party could solve a lot of problems in the sector.

Aiming to be the standard for e-commerce, where every product will be automatically classified and standard prices will be offered, the platform will allow development of third-party decentralized applications that can use their classification and pricing services. Thus, offering third-party applications an immediate global acceptance.

The platform will work on two systems: a system of goods - where owners can exchange the ownership of products using smart contracts, and the system of tokens – the platform will also have its own decentralized token that will be used to pay for goods.

Benefits of the platform

Apart from making international standards for e-commerce products, the platform has other benefits like:

Being completely transparent, the platform will install trust in the e-commerce ecosystem and thus, enable all the parties to trust the inputs and contributions provided by other users over the platform.

All market participants make their own contribution to the system development and receive rewards for this contribution.

Being on blockchain the security of your funds and transactions is of globally best standard

Elementh token and ICO details

The platform will have a decentralized token EEE – an ERC20 token. Almost 70% of the overall quantity will be available in the ICO and thus will belong to the system participants. The platform will receive EEE as a fee for transactions and 70-99% of these tokens will be paid to master-nodes to maintain the system.

There have been many developments in the e-commerce sector lately and many of them were based on the blockchain so in many ways the Elementh idea is similar and there is going to be competition as more and more blockchain based e-commerce platforms come up. However, the highlight of the platform is not the e-commerce marketplace, the highlight is the standardization of products which will allow it to be readily accepted by more and more platforms who in turn will use Elementh to provide their services. The standardization is aimed at solving the problems faced by e-commerce and according to me, it is the most attractive feature that the platform has to offer. The platform thus could have a great impact on the e-commerce industry, all depending on how perfectly can design the features that platform claims to offer in future.